SEC Staff: Promoting a Token’s Current Use Doesn’t Signal Profit

This matters because it draws a line between marketing a token's present utility and promising future returns — a distinction that has driven much of the SEC's enforcement logic. Projects that publicize live use cases, buybacks or upgrades now have a clearer, though non-binding, signal on where staff sees the securities line. The open question is whether courts and future leadership treat this FAQ as durable guidance or as a staff view that shifts with the commission's composition.